On January 1, 2018, Belview, Inc. issued long-term notes payable for $50,000. The note will be paid over 10 years with payments of $5,000 plus 12% interest due each January 1, beginning January 1, 2019. The amortization schedule for the first three payments is provided. Prepare the journal entries for the issuance of the note and for the January 1, 2020 note payment. Omit explanation 01/01/2018 01/01/2019 01/01/2020 01/01/2021 Beginning Principal Interest Total Ending Balance Payment Expense Payment Balance $50,000 $50,000 $5,000 $6.000 $11,000 45,000 45.000 5.000 5.400 10,400 40.000 40.000 5,000 4,800 9,800 35.000 Paragraph - B / 2 5